AUDJPY Holds Above Key Support at 100 Amid Mixed Signals: Buy the Dip

AUDJPY showed a minor sell-off on board-based Australian dollar weakness. It hits an intraday low of   100.15 and is currently trading around 100.39. The intraday trend remains bullish as long as support at 100 holds.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 100.50

EMA (4-hour chart)

55-EMA- 100.65

200-EMA- 99.63

365-EMA- 98.72. The pair trades below short and above long long-term moving average.

Major Support- 100. Any breach below 100 will drag the pair down to 99.70/99/98.25/97.48/97/96/95/94.39.

Major resistance - 100.80. Any break above 101.20 confirms minor bullishness; a jump to 101.80/102.40/103 is possible.

Indicator (4-hour chart)

CCI (50)-  Neutral

Average directional movement Index-  Bearish. All indicators confirm a mixed trend. trend.

It is good to buy on dips around 100.40-42, with an SL of 99.80 and a TP of 102.40.